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Report No. : |
347652 |
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Report Date : |
02.11.2015 |
IDENTIFICATION DETAILS
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Name : |
JORDAN CHEMICALS CO LTD |
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Registered Office : |
Airport Road, Al Qastal Area, P O Box: 499, Amman 11118 |
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Country : |
Jordan |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1964 |
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Com. Reg. No.: |
5198, Amman |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and
Distribution of Fertilizers and Raw Materials for the Chemical and Plastic
Industries. |
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No. of Employees : |
30 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JORDAN - ECONOMIC OVERVIEW
Jordan's economy is among the smallest in the Middle East,
with insufficient supplies of water, oil, and other natural resources underlying
the government's heavy reliance on foreign assistance. Other economic
challenges for the government include chronic high rates of poverty,
unemployment, inflation, and a large budget deficit and resulting government
debt. King ABDALLAH, during the first decade of the 2000s, implemented
significant economic reforms, such as opening up foreign trade and privatizing
state-owned companies that attracted foreign investment and contributed to
average annual economic growth of 8% for 2004 through 2008. The global economic
slowdown and regional turmoil since, however, reduced the average annual growth
rate to 2.6% for the 2010-2013 period and hurt export-oriented sectors,
construction, and tourism. Jordan's finances have been strained by a series of
natural gas pipeline attacks in Egypt, causing Jordan to substitute more
expensive diesel imports, primarily from Saudi Arabia, to generate electricity.
To diversify its energy mix, Jordan is currently exploring nuclear power
generation, exploitation of abundant oil shale reserves and renewable
technologies, as well as the import of Israeli offshore gas. In August 2012, to
correct budgetary and balance of payments imbalances, Jordan entered into a
$2.1 billion, three year International Monetary Fund Stand-By Arrangement. In
2014, fiscal reform measures enacted in the previous few years continued to
boost government revenues and reduced the budget deficit even as an influx of
over 620,000 Syrian refugees since 2011 put additional pressure on
expenditures.
|
Source
: CIA |
Company Name :
JORDAN CHEMICALS CO LTD
Country of Origin : Jordan
Legal Form :
Limited Liability Company
Start Date :
1964
Commercial
Registration Number : 5198,
Amman
National ID Number : 200012215
Issued Capital : JD
3,000,000
Paid up Capital : JD
3,000,000
Total Workforce : 30
Activities :
Distributors of fertilizers and raw materials for the chemical and plastic
industries
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Mahmoud Abbas,
Finance Manager
JORDAN CHEMICALS CO
LTD
Street : Airport Road
Area : Al Qastal Area
PO Box : 499
Town : Amman 11118
Country : Jordan
Telephone : (962-6) 4625617 / 4711193 / 4711194 /
4711195 / 4892853
Facsimile : (962-6) 4659061 / 4711197 / 4875303
Mobile : (962-79) 5055592
Email : jumana@hammoudehgroup.com.jo / abbas@hammoudehgroup.com
Subject operates
from a suite of offices covering 200 square metres that are rented and located
in the Central Business Area of Amman.
Name Position
·
Mohamed Nabil Abdul Hadi Hammoudeh Managing
Director
·
Maher Abdul Hadi Hammoudeh Director
·
Sami Abdul Hadi Hammoudeh Director
·
Samir Abdul Hadi Hammoudeh Director
·
Jumana Qurayat Administration
Manager
·
Mohamed
Abu Eid Sales Manager
·
Mahmoud
Abbas Finance
Manager
Date of Establishment : 1964
History : Subject started in 1964 as a Sole
Proprietorship called “Abdul Hadi Hammoudeh”. On 17th February 1998 subject became a Limited
Liability Company called “Jordan Chemicals Co Ltd”.
Legal Form :
Limited Liability Company
Commercial Reg. No. : 5198, Amman
National ID No. :
200012215
Issued Capital : JD 3,000,000
Paid up Capital : JD 3,000,000
·
Mohamed Nabil Abdul Hadi Hammoudeh 25%
·
Maher Abdul Hadi Hammoudeh 25%
·
Sami Abdul Hadi Hammoudeh 25%
·
Samir Abdul Hadi Hammoudeh 25%
·
Jordan
Feed Company Co Ltd
Amman
·
Provimi
Jordan Feed Concentrate Manufacturing Co Ltd
Amman
·
National
Hatcheries Company Ltd
Amman
·
Hammoudeh
Brothers for Trade & Investment Co
Amman
Activities: Engaged in the import and distribution of
fertilizers and raw materials for the chemical and plastic
industries.
Import
Countries: Belgium, United
Kingdom, Italy, Turkey, Spain and Saudi Arabia.
International
Suppliers:
·
SABIC Saudi Arabia
·
Petro Rabigh Saudi Arabia
·
Qapco Qatar
Export
Countries: Iraq
Operating Trend: Steady
Subject has a
workforce of 30 employees.
Financial
highlights provided by local sources are given below:
Currency: United
States Dollars (US$)
Year Ending
31/12/13: Year Ending
31/12/14:
Total Sales US$ 31,750,000 US$
33,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Arab
Bank Plc
Amman
Tel: (962-6) 4638161
Fax: (962-6) 4637082
·
Standard
Chartered Bank
Shmeisani
Amman
Tel: (962-6) 5607201
Fax: (962-6) 5679115
No complaints
regarding subject’s payments have been reported.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s operating
history or the manner in which payments are fulfilled. As such the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.